Needham & Company LLC Reiterates Buy Rating for Nurix Therapeutics (NASDAQ:NRIX)

Needham & Company LLC reaffirmed their buy rating on shares of Nurix Therapeutics (NASDAQ:NRIX - Free Report) in a research report report published on Tuesday morning, Benzinga reports. They currently have a $31.00 price objective on the stock.

A number of other research firms have also issued reports on NRIX. HC Wainwright cut their price target on shares of Nurix Therapeutics from $35.00 to $19.00 and set a buy rating on the stock in a report on Tuesday, February 20th. Wells Fargo & Company cut their price target on shares of Nurix Therapeutics from $23.00 to $20.00 and set an overweight rating on the stock in a report on Friday, February 16th. Royal Bank of Canada cut their price target on shares of Nurix Therapeutics from $24.00 to $22.00 and set an outperform rating on the stock in a report on Friday, February 16th. Finally, Morgan Stanley boosted their price target on shares of Nurix Therapeutics from $9.00 to $10.00 and gave the company an equal weight rating in a report on Monday, February 26th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $20.40.

Nurix Therapeutics Trading Up 26.7 %

Shares of NASDAQ NRIX traded up $3.68 during midday trading on Tuesday, reaching $17.48. The company's stock had a trading volume of 1,903,005 shares, compared to its average volume of 817,416. The company has a 50 day moving average price of $11.94 and a 200 day moving average price of $9.04. Nurix Therapeutics has a one year low of $4.22 and a one year high of $17.51. The company has a market cap of $859.14 million, a price-to-earnings ratio of -6.60 and a beta of 2.06.

Nurix Therapeutics (NASDAQ:NRIX - Get Free Report) last released its quarterly earnings results on Thursday, February 15th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.26). Nurix Therapeutics had a negative net margin of 186.98% and a negative return on equity of 59.47%. The firm had revenue of $15.16 million for the quarter, compared to analyst estimates of $30.66 million. Research analysts anticipate that Nurix Therapeutics will post -3.26 earnings per share for the current fiscal year.

Insider Activity at Nurix Therapeutics

In related news, CFO Houte Hans Van sold 6,812 shares of the business's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $10.02, for a total transaction of $68,256.24. Following the transaction, the chief financial officer now directly owns 68,333 shares of the company's stock, valued at $684,696.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 10,817 shares of company stock valued at $100,256. Corporate insiders own 9.80% of the company's stock.

Institutional Trading of Nurix Therapeutics

Large investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP grew its position in Nurix Therapeutics by 211.1% in the first quarter. Quantbot Technologies LP now owns 5,600 shares of the company's stock worth $78,000 after acquiring an additional 3,800 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in Nurix Therapeutics by 351.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,611 shares of the company's stock worth $58,000 after acquiring an additional 4,367 shares in the last quarter. Quest Partners LLC bought a new stake in Nurix Therapeutics in the fourth quarter worth approximately $59,000. Royal Bank of Canada grew its position in Nurix Therapeutics by 112.9% in the second quarter. Royal Bank of Canada now owns 5,804 shares of the company's stock worth $58,000 after acquiring an additional 3,078 shares in the last quarter. Finally, Natixis bought a new stake in Nurix Therapeutics in the fourth quarter worth approximately $83,000.

About Nurix Therapeutics

Nurix Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule and cell therapies for the treatment of cancer, inflammatory conditions, and other diseases. The company develops NX-2127, an orally bioavailable Bruton's tyrosine kinase (BTK) degrader for the treatment of relapsed or refractory B-cell malignancies; NX-5948, an orally bioavailable BTK degrader for the treatment of relapsed or refractory B-cell malignancies and autoimmune diseases; and NX-1607, an orally bioavailable Casitas B-lineage lymphoma proto-oncogene-B (CBL-B) inhibitor for immuno-oncology indications.